Omnilytics, a fashion analytics and insights company from Singapore, has announced that it will be acquiring Malaysian data labelling startup, Supahands.
Terms of the deal were not disclosed, but the acquisition is reportedly a strategic one, valued at $US $20 million.
- Omnilytics is a market intelligence, analytics, and insights platform that provides real-time data and competitor analysis focused on the fashion retail market.
- Founded in 2014, Supahands provides technology to accurately label images, text, speech, and videos.
- Upon the acquisition, Supahands CEO, Mark Koh, will join Omnilytics’s board and serve as the firm's chief strategy officer.
Why It Matters
- The acquisition deal is part of Omnilytics' ongoing strategic acquisition drive to expand its product offerings and enhance its retail tech stack capabilities.
- Omnilytics CEO Kendrick Wong mentioned that the acquisition will help the company "fill a gap in its existing tech offerings for retail businesses".
- Omnilytics reportedly has gathered data on over 100 million products across 75,000 brands and retailers.